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Transcript of Prius
Acceleration - Reaches up to 80KM/H in just 6 seconds
Speed - Up to 160km/H
Response sought from promotion method - Knowledge and Liking
The message - Get attention & Hold interest
Media - Personal Communication channels & Non-personal communication channels
Advertising objectives - Informative advertising.
Sales Promotion to be used - test drive, $200 petrol voucher, free service for the first year.
IMC budget - percentage-of-sales method, 0.5% of our expected sales of 2,365,650,000 =$12 Million
Communication tools - Media advertising 60%, Public relations 20%, Sales promotion 10%, Direct and digital marketing 5%, Personal selling 5%.
The Marketing Mix N200 Drive Smart, Drive Eco, Drive Target market
The target audience that we are targeting are:
•People in the age range of 25-30
•Their income ranging around $30k/year
•People that have an average disposable income
•People who value the environment and aware of green house gases
•People that are financially aware
•People leaving in suburban and urban areas and in cities that contains 500,000+ in populations; Sydney
Target Market Competitors Toyota , the company was founded by the Japanese Kiichiro Toyoda in 1937 to create automobiles. Since 1937 , Toyota has become one of the most successful automobile companies world wide . Toyota has focused on environmentally friendly vehicles for years now. In 2005 The company implemented its Fourth Environmental Action . The company has implemented Environmental Activities Grant Programs since 1999 . The Toyota Prius is their most successful eco friendly car , one which was designed to decrease greenhouse gas emissions and have a less damaging impact on the environment.
More than 55% of all new product ideas are fostered with in the company
The company’s salespeople are another good source due to the fact that they are in contact with customers on daily basis.
That is the case for Toyota, Toyota affirms that employees submit two million ideas on a yearly basis.
More than eighty five percent of them are implemented.
Toyota Australia employs 4,571 staff and thousands more are in directly employed through company suppliers and dealers.Toyota also has a training program for its employees, for instance the Toyota way training through the pan European curriculum employees are introduced to Toyotas cultural dna and its worldwide methods.
So far, 50 % of head office employees have completed all the toyota’s way training courses.
In response to the tough business environment the decision is to further concentrate on building critical Toyota way skills that will deliver innovation and continuous improvement and efficiency.
The 2010 Toyota camry is powered by Toyotas synergy drive system, which is the most proven gasoline electric full hybrid system on the globe. Each application of the Toyota hybrid synergy drive system is suited to the model in which it is installed
The Auris HSD (Hybrid synergy drive) introduces full hybrid technology to a core model at the centre of Toyota’s model line up. There are certain benefits of great fuel efficiency and low CO2 emissions that are inherent in the hybrid synergy drive.(www.greencarsite.co.uk/econews/Toyota-Auris)
There are a number of material cues customers can find in the Toyota Prius. The Toyota hybrid Prius has the lowest fuel consumption of any Australian made car.
Incorporated in the car is its hybrid synergy drive system and improved aero dynamics, it attains a intergrated fuel economy figure of just 6.0 litres per 100km,the vehicle takes off at a slow speed, Hybrid Prius can run on electric power alone, it can also stop the petrol engine whilst stationary or while travelling. Consumers can find that it contains LED tail
Kotler, P, Adam, S, Denize, S, & Armstron, G 2009, Principles of marketing, 4th edn, pearson education Australia, Sydney.
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(2010). The third Generation Hybrid. Available: http://www.toyota.com/prius-hybrid/. Last accessed 1/5/2010.
(2010). 2010 Toyota Prius. Available: http//media.toyota.ca/pr/tci/en/Toyota the 2010 camry hybrid. Last accessed 2/may/2010
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Income Statement Introduction AWOT Analysis
·Expand consumer awareness of the Prius by continued work through the media to educate the early majority and mainstream consumer on how hybrid vehicle technology operates.
·Aim of Launching price of $29 990.
·In the previous year, the 2009 model there were 13,300 Toyota Prius sold within Australia. We intend on increasing this by 7000, to have sales of 20 000 + of the 2010 Toyota Prius.
·In 2009 13,300 units of the Toyota Prius Hybrid were sold at an average launching price of $39,900, meaning that Toyota made sales of around 530,670,000. Because the price is lower than the previous model we intend on selling up to 7000 more than the 09 model to get a sales of $608 797 000.
·Attract more of a younger generation aged between 25-30 of both genders to the Toyota Prius.
Target market : Environmental conscious and financially aware individuals who want to save the environment as well as save on petrol.
Product positioning : Eco friendly Car
Price: Price somewhat lower than competitive brands, and significantly lower than the launching price of previous models.
Distribution outlets : Toyota Authorized Dealers
Service: Widely available - nationwide
Integrated Marketing / sales promotion: Nationwide Advertising campaign, radio, television.
Communication: Emphasize the lower price and eco friendly features; Aim is to increase sales by up to 7000 units, to do so there must be an increase in the advertising budget.
Synchronous: Update the current Toyota website; show all the Toyota hybrid products, emphasize the new N200, provide information on the vehicle and all its eco friendly features.
Research and development : Research was previously conducted on the previous model , in order to find areas of the vehicle which needed development , resulting in a new and advanced design .
Marketing research : Conducted on the amount of money people are willing to pay for a Eco Friendly car aswell as the competiton the Prius faces .
Positioning strategy Internet Research showed a pattern of the top 5 eco friendly cars for 2010 , with the number one being the Prius , the second spot going to the Honda civic hybrid , the 3rd most popular being the Honda insight hybrid , followed by the ford fusion hybrid and with the 5th being the more luxurious option coming , the Lexus HS 250h 2010 . Toyota also faces competition from companies such as Ford with their vehicles the Ford Escape Hybrid as well as the Ford fusion Graph based on Market Research Product Life Cycle Strengths
Performance comparing to other eco cars
Lower pollution / environmentally friendly
Higher battery-life comparing to other Eco cars
More expensive than other similar cars
Performance comparing to cars in general
Specialist needed for servicing and repairs
Awareness of the product
Target different segments
Availability of the product
Fuel prices may decrease in the future